..but aluminium producers concentrate even further

摘要

Alcan is now one step forward after winning support of the Pechiney Board for the merger that could result in the largest aluminium company by revenue. As we analysed in the July issue, Alcan+Pechiney account for about 23 percent of the global calcined coke consumption - taking into account 100 percent of Aluchemie's needs net of intra-trade. This may put the combined company in a stronger position to negotiate its raw materials. However, you can also argue that given the unique specification requirements of each aluminium smelter, the bargaining power of the combined entity could be diluted somewhat.